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Not really sure what would be in it for another company to buy UKOG, however if they did I don't think they'd need to spend much per share to pick it up. Sirius was sitting on huge amounts of raw materials and Anglo American bought them for an absolute pittance shafting a huge amount of LTHs. If there was any kind of compelling reason to buy UKOG (which I struggle to see myself) I think it would be much along the same lines, something like the highest SP from the last month or two.
I've been waiting a long time, the value of my holding has been decimated. I'm no longer willing to average down as its now at the point where it feels like throwing good money after bad.
I'd love for this to be the success I thought it would be years ago, but there aren't currently any signs of that. Maybe if SS took some time out from awarding himself bonuses and started talking to the shareholders instead of keeping us festering in the dark, then I'd perhaps feel a little more confident.
Why do it at the open offer price when they can buy cheaper on the market?
Also yeah, when you've already lost 60% of your investment on this, and averaged down over the years, it's pretty hard to reconcile with paying over market value to 'average down' something thats done nothing but lose value.
So everyone else taking them up on the very generous offer to pay more than market value for more shares? Nope?
When I invested in this a few years back it had such potential, now all we get is silence, occasional bad news or SS holding his cap out to do another cash collection.
I really should have learned my lesson by now that investing in anything on AIM is a mugs game. AIM is pretty much a free funding platform for companies who then screw over their investors when it suits them.
I should have learned after investing in SXX but I didn't but I'm sure as hell going to learn this time.
No-one to blame but myself, I threw money at things that I thought had potential (and did), but this system is not here to make PIs rich, it's here to fleece us and reward the MMs and the CEOs.
Does anyone who uses Degiro have problems purchasing UKOG? I don't seem to have problems with any other share, but my orders can sometimes sit there for days when I try to top up UKOG. I've even tried setting a limit above ask and they just seem to sit there.
Thanks.
Long time listener... first time caller.
I'm personally fairly optimistic about Sirius in the long term, I'm planning to keep holding for long term and really who knows what that will bring.
I see fairly positive messages in the conf call, news articles and other goings on, that make me think things aren't over yet:
- Sirius have other options for funding that they are exploring
- It was they who cancelled the bond (and before the deadline)
-CF is putting his own money in (and I think the criticism of the value is unfair, £10k is £10k, who is anyone to say how much he should put in? Plus if he'd dropped £1m in then people would be screaming that the price had been pushed down so he could buy more cheaply)
- The infrastructure build has been going well so far and some of it is ahead of schedule
- Most importantly there is a lot of a really good product which is in high demand in the ground waiting for the infrastructure
- It's a great project that will bring great jobs to an area that needs it and lots of money for HMRC
- Sirius are slowing their operations to preserve cash - not just flying gung-ho into administration
- A lot of the big boys are holding
I can understand why some people sold after the cancellation of the bond, if you'd put a lot of money in then you want to negate your risks and taking some loss is better than losing it all. It makes sense especially if you need the cash in the short term. It could prove to be the right decision if things go wrong over the next 6 months, or it could end up being a mistake if the SP bounces back if things start to go well. But that's investing, you have to make a call that is right for you and your circumstances and is something you are comfortable with, no amount of hindsight should make you question decision as it could have always gone another way.
What doesn't help on here though is the judgment, the "I told you so x weeks ago", the "you put too much in one basket", "the why did you sell at such a loss" messages. There are some good analyses on this chat and some valid opinions, but you have to wade through some pretty pious and hostile stuff to find it, which is a shame and defo something people don't need if they are staring at a loss (paper or physical).
As I said, I take some positives from the current state of things and at the moment I'd rather hold than take a loss as I think good things can still come. I also think that there is a plan at Sirius and that it will all reveal itself over the next few months. But it's all a game of risk and anything can happen. Who knows how the no-deal brexit we seem to be just over a month from will affect things, or if the US hits another recession. No-one can predict this stuff and anyone who claims they can is full of it really.
Ignore the rampers and the shorters, they only care about their own money, do what is right for you (buy/hold/sell) and that you are comfortable with.
I'll stop rambling and